Sec 44ad
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
24 May 2013
Is audit compulsary if the income under section 44AD is Rs. 2,10,000 and as per books is Rs. 2,00,000. Please can anyone help me out.
Thanks in advance
Thanks in advance
24 May 2013
If you show the Income as per Section 44AD,
at Rs 210000/- audit is not compulsory. If you show income lesser than the income required U/s 44AD, Audit is compulsory,( which is not advisable as auditor will charge the Income whereas Govt is taking tax @ 10%).
.
Show the income at Rs 2.10 lacs.
.
at Rs 210000/- audit is not compulsory. If you show income lesser than the income required U/s 44AD, Audit is compulsory,( which is not advisable as auditor will charge the Income whereas Govt is taking tax @ 10%).
.
Show the income at Rs 2.10 lacs.
.
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